Kamyab Jawan Program (KJP) was launched in October 2019 to provide youth loans for the initiation of their businesses. The State Bank of Pakistan reported that the Youth Entrepreneurship Scheme (YES) has been segregated the financing into three tiers:
• Tier-1: loan limit from Rs. 100,000 to Rs. 1 million @3% markup
• Tier-2: loan limit above Rs. 1 million to Rs. 10 million @ 4% markup
• Tier-3: loan limit above Rs. 10 million to Rs. 25 million @ 5% markup
Under the Kamyab Jawan Program, the Pakistani government has granted about Rs. 1 billion to female entrepreneurs across the country. Women who obtained the grant will become eligible for the Kamyab Jawan Program’s Youth Entrepreneurship Scheme (YES).
On Tuesday, Mr. Usman Dar, the Special Assistant to the Prime Minister on Youth Affairs, announced that one million applications were received under the Kamyab Jawan Program of which 190000 are female applicants.
Moreover, he categorized the 10,000 youth who have directly been benefited from the distribution of Rs.8 billion, the number of businesses initiated by them while a total of about 70,000 are employed with such disbursement, are as under:
• Punjab: 7,100 with Rs. 6.18 billion
• Sindh: 1,437 with Rs. 1.3 billion
• KPK: 1,192 with Rs. 668 million
• Federal: 111 with Rs. 211 million
• Balochistan: 54 with Rs. 45 million
• Gilgit-Baltistan: 69 with Rs. 56 million
• AJK: 38 with Rs. 24 million
The copies of business proposals will be sent to all chambers. In policy matters, the chamber will have a say. He also commended the Rawalpindi Chamber of Commerce for its role in promoting entrepreneurship in the city. On this occasion, the SAPM distributed Rs. 70 million in cheques to skilled young who met the required conditions.
According to Usman Dar, the PTI-led government has established over 200 different types of curricula for delivering technical education to youth, with scholarships available to qualified youth based on merit.
Dar hailed Kamyab Jawan Program as the “backbone” of the country’s economy. The government has also agreed to speed up the distribution of designated Rs. 100 billion to young people for business and will consider an additional allocation of Rs. 100 billion by the end of 2023.
By Maham Bashir